Members give final approval to merger of SEFCU, CAP COM credit unions – The Daily Gazette

Members give final approval to merger of SEFCU, CAP COM credit unions – The Daily Gazette

ALBANY — The votes are tallied and it’s official: Members of CAP COM Federal Credit Union have approved its merger with SEFCU. The two large Capital Region-based credit unions announced their intention to merge last July after months of discussion. With regulatory approval in hand, the matter went to members for six weeks of voting. The result was announced to members Wednesday evening. “The SEFCU and CAP COM teams have a lot more work ahead as our two organizations truly become one,” SEFCU President and CEO Michael J. Castellana said in a message to members. “That integration process will take several months. Now though, for members, it’s business as usual.” SEFCU was the larger of the two, with more than twice as many members and more than twice as much …
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